About
Paul Merchants Limited, together with its subsidiaries, provides financial services in India. It operates through Forex, Travel, and Other segments. The company offers foreign exchange services in the form of currency notes, traveler cheques, travel cards, outward remittance, and foreign currency drafts; tour and travel services, including air ticketing, hotel accommodation, bus and cruise tours, holiday packages, travel insurance, and forex services; domestic and international money transfer services; PPI instruments; insurance products; business, personal, and gold loans; and business payment solutions for legal, financial, and educational institutions. It also engages in buying and selling real estate properties. In addition, it offers large corporate lending, vehicle loans, direct assignment of loans, co-lending partnerships, loans against securities, loans against silver, and other financial products. The company was formerly known as Brite Agro Mills Ltd and changed its name to Paul Merchants Limited in 1991. Paul Merchants Limited was incorporated in 1984 and is based in Chandigarh, India.
Key Metrics
as of Sep 2026Market Cap151 Cr
P/E7.34
Div Yield0.00 %
Book Value₹2,909.00
52w High₹774.00
52w Low₹407.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 469.00 | 472.02 | 499.61 | 591.22 | 493.07 | 578.09 | 749.25 | 985.41 | 1,015.83 | 853.51 | 2,046.03 | 1,799.03 | 1,801.56 |
| Expenses | 470.95 | 474.74 | 501.76 | 593.67 | 494.86 | 580.72 | 750.85 | 985.66 | 1,016.09 | 856.43 | 2,042.67 | 1,795.32 | 1,796.03 |
| Operating Profit | -1.95 | -2.72 | -2.15 | -2.45 | -1.79 | -2.63 | -1.60 | -0.25 | -0.26 | -2.92 | 3.36 | 3.71 | 5.53 |
| OPM % | -0.42 | -0.58 | -0.43 | -0.41 | -0.36 | -0.45 | -0.21 | -0.03 | -0.03 | -0.34 | 0.16 | 0.21 | 0.31 |
| Other Income | 4.08 | 4.28 | 3.72 | 18.35 | 4.63 | 4.44 | 3.25 | 5.00 | 4.72 | 7.90 | 8.16 | 7.35 | 6.49 |
| Depreciation | 0.82 | 1.04 | 1.04 | 0.95 | 0.73 | 0.88 | 0.82 | 0.78 | 0.73 | 0.88 | 0.76 | 0.67 | 0.41 |
| Interest | 0.09 | 0.08 | 0.08 | 0.10 | 0.29 | 0.25 | 0.30 | 0.30 | 0.37 | 0.41 | 0.39 | 0.45 | 0.46 |
| Profit before tax | 1.22 | 0.44 | 0.45 | 14.85 | 1.82 | 0.68 | 0.53 | 3.67 | 3.36 | 3.69 | 10.37 | 9.94 | 11.15 |
| Tax % | 30.33 | 34.09 | 91.11 | 23.10 | 20.33 | 23.53 | 69.81 | 25.89 | 25.30 | 24.12 | 26.33 | 23.84 | 27.09 |
| Net Profit | 0.86 | 0.30 | 0.04 | 11.42 | 1.44 | 0.52 | 0.16 | 2.72 | 2.50 | 2.80 | 7.63 | 7.56 | 8.13 |
| EPS in Rs | 2.79 | 0.97 | 0.13 | 37.03 | 4.67 | 1.69 | 0.52 | 8.82 | 8.11 | 9.08 | 24.74 | 24.39 | 26.23 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,083.00 | 3,345.00 | 6,529.00 | 6,921.00 | 5,299.00 | 2,982.00 | 5,370.00 | 4,910.00 | 4,542.00 | 2,894.00 | 2,465.00 | 2,165.00 |
| Expenses | 2,065.00 | 3,333.00 | 6,490.00 | 6,884.00 | 5,271.00 | 2,965.00 | 5,351.00 | 4,893.00 | 4,525.00 | 2,881.00 | 2,431.00 | 2,136.00 |
| Operating Profit | 18.00 | 12.00 | 38.00 | 37.00 | 28.00 | 17.00 | 19.00 | 16.00 | 17.00 | 12.00 | 34.00 | 29.00 |
| OPM % | 0.90 | 0.40 | 0.60 | 0.50 | 0.50 | 0.60 | 0.30 | 0.30 | 0.40 | 0.40 | 1.40 | 1.30 |
| Other Income | 4.00 | 1.00 | 1.00 | 1.00 | 1.00 | 2.00 | 1.00 | 2.00 | 207.00 | 9.00 | 3.00 | 2.00 |
| Interest | 1.00 | 1.00 | 2.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 2.00 | 3.00 | 4.00 |
| Depreciation | 4.00 | 3.00 | 3.00 | 2.00 | 2.00 | 2.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| Profit before tax | 18.00 | 8.00 | 35.00 | 35.00 | 27.00 | 16.00 | 17.00 | 14.00 | 219.00 | 16.00 | 32.00 | 24.00 |
| Tax % | 25.00 | 28.00 | 26.00 | 26.00 | 26.00 | 21.00 | 28.00 | -5.00 | 3.00 | 23.00 | 35.00 | 34.00 |
| Net Profit | 13.00 | 6.00 | 26.00 | 26.00 | 20.00 | 13.00 | 12.00 | 15.00 | 213.00 | 13.00 | 20.00 | 16.00 |
| EPS in Rs | 42.77 | 19.16 | 84.70 | 83.81 | 65.77 | 40.90 | 38.39 | 48.55 | 687.39 | 40.97 | 65.87 | 51.16 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3.00 | 3.00 | 3.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Reserves | 492.00 | 479.00 | 473.00 | 449.00 | 424.00 | 403.00 | 390.00 | 379.00 | 364.00 | 151.00 | 138.00 | 118.00 |
| Borrowings | 7.00 | 16.00 | 14.00 | 20.00 | 10.00 | 5.00 | 1.00 | 0.00 | 17.00 | 18.00 | 24.00 | 21.00 |
| Other Liabilities | 25.00 | 31.00 | 53.00 | 56.00 | 37.00 | 18.00 | 22.00 | 17.00 | 85.00 | 60.00 | 52.00 | 55.00 |
| Total Liabilities | 527.00 | 530.00 | 543.00 | 526.00 | 471.00 | 427.00 | 414.00 | 397.00 | 467.00 | 230.00 | 216.00 | 195.00 |
| Fixed Assets | 62.00 | 61.00 | 61.00 | 57.00 | 58.00 | 59.00 | 62.00 | 75.00 | 75.00 | 50.00 | 50.00 | 40.00 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 | 2.00 |
| Investments | 372.00 | 243.00 | 237.00 | 190.00 | 196.00 | 203.00 | 223.00 | 259.00 | 190.00 | 11.00 | 9.00 | 4.00 |
| Other Assets | 94.00 | 225.00 | 245.00 | 279.00 | 217.00 | 165.00 | 129.00 | 63.00 | 201.00 | 167.00 | 155.00 | 150.00 |
| Total Assets | 527.00 | 530.00 | 543.00 | 526.00 | 471.00 | 427.00 | 414.00 | 397.00 | 467.00 | 230.00 | 216.00 | 195.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -3.00 | -27.00 | -14.00 | 20.00 | 22.00 | -5.00 | 5.00 | 94.00 | -213.00 | 19.00 | 23.00 | 108.00 |
| Cash from Investing Activity | 8.00 | 34.00 | 17.00 | -25.00 | -22.00 | 4.00 | -8.00 | -95.00 | 176.00 | 1.00 | -18.00 | -22.00 |
| Cash from Financing Activity | -10.00 | 2.00 | -8.00 | 9.00 | 4.00 | 4.00 | 0.00 | -18.00 | -2.00 | -6.00 | -2.00 | -76.00 |
| Net Cash Flow | -5.00 | 8.00 | -5.00 | 3.00 | 5.00 | 3.00 | -3.00 | -19.00 | -38.00 | 14.00 | 2.00 | 11.00 |
| Free Cash Flow | -6.00 | -31.00 | -21.00 | 19.00 | 22.00 | -4.00 | 14.00 | 92.00 | 23.00 | 16.00 | 10.00 | 85.00 |
| CFO/OP % | 8.00 | -205.00 | -15.00 | 78.00 | 102.00 | -10.00 | 47.00 | 592.00 | -882.00 | 322.00 | 99.00 | 404.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 4.00 | 6.00 | 8.00 |
| Inventory Days | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 | 1.00 |
| Days Payable | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 3.00 | 5.00 | 7.00 |
| Cash Conversion Cycle | 2.00 | 1.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 1.00 | 2.00 | 2.00 | 2.00 |
| Working Capital Days | 4.00 | 17.00 | 10.00 | 11.00 | 11.00 | 17.00 | 7.00 | 3.00 | -1.00 | -1.00 | 1.00 | 1.00 |
| ROCE % | 3.00 | 2.00 | 8.00 | 8.00 | 7.00 | 4.00 | 4.00 | 4.00 | 80.00 | 11.00 | 23.00 | 17.00 |
Corporate Actions
2 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Bonus | 19 Dec 2023 | 19 Dec 2023 | 2:1 | — | |
| Dividend | 19 Aug 2019 | 20 Aug 2019 | — | 2.00 |
Announcements
5 filingsShareholding Pattern
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Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update20 Feb from infomerics
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Rating update21 Aug 2025 from infomerics
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Rating update4 Jun 2025 from infomerics
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Rating update25 Feb 2025 from infomerics
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Rating update28 Nov 2024 from infomerics
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Rating update23 Aug 2024 from infomerics